Hyundai, Ford clock growth in turnover in FY17

Published On: 13, Dec 2017 | Source: business-standard.com

The turnover of Maruti Suzuki for 2016-17 is more than the total of turnovers of three major brands — Hyundai, Ford and Nissan — put together.

Except Maruti Suzuki, no original equipment manufacturers are listed in India. Maruti Suzuki in 2016-17 clocked a revenue of Rs 77,266.20 crore as against Rs 57,746.30 crore in 2015-16, up by 34 per cent.

The country’s second largest carmaker and South Korean automajor Hyundai Motor has clocked a revenue of Rs 41,075 crore in 2016-17 against Rs 36,155 crore in 2015-16, with a growth of around 14 per cent. “We will continue to excite the market with new products and customer-led innovative marketing campaigns in 2018. We will maintain the same momentum to achieve market leadership,” the company said.

US-based Ford’s Indian arm also saw 34 per cent jump in revenue to Rs 22,238 crore from Rs 16,649 crore, a year ago. The loss dropped marginally to Rs 553 crore from Rs 584 crore. Ford’s revenue has grown up by around 30 per cent for the past three years along with good Ebitda growth, said a company spokesperson.

Ford has attributed the loss to investment in setting up a facility in Sanand, which doubled its capacity. The rise in competition has also affected Ford’s performance. To improve profitability, Ford said it was looking at increasing brand awareness and train its employees to improve customer service and promote low-cost operations.

The company will set up an export hub and a centre of excellence for small cars. Nissan Motor’s revenue dropped 11 per cent to Rs 9,495.40 crore from Rs 9,874 crore, a year ago. While 2016-17 profit loss numbers were not reported, Nissan posted a profit of Rs 373.22 crore as against loss of Rs 171.91 crore, a year ago.